Page 35 - 2019 - Leaders in Legal Business (q)
P. 35
League Tables
League tables can be broadly described as those products that measure law firm deal
activity through factual data rather than more subjective methodologies.
Many league tables originated in the 1990s as demand rose for more sophisticated and
transparent deal reporting.
The likes of MergerMarket, Dealogic, Thomson Reuters, Bloomberg, and others are well
known in this space.
For many deal-focused firms, league table performance is just as — if not more important
— than how they fare in directories.
As well as areas that lend themselves easily to deal reporting — M&A, finance, capital
markets, project finance — league table-style surveys are prevalent in other practice areas where
quantitative data can be collected, measured, and assessed.
For example, there are surveys that list those law firms handling the most patent
prosecutions filed at the patent office.
Google
As traditional print directories were replaced by internet-based sites in the 1990s and
2000s, Google became the primary way that people accessed information.
Surveys show that a large percentage of buyers of legal services, particularly in the retail
and consumer sectors, search for information about lawyers online.
When they do go online, Google is often their first port of call, and that will lead them to
law firms’ own websites, legal directories, blogs, news articles, and other sources of information
about lawyers.
It is clear, therefore, that lawyers need to manage and maintain a strong and credible online
presence.
Securing high visibility on Google is paramount for some lawyers and firms, and an
industry of experts in search engine optimization (SEO) has built up to help lawyers secure online
prominence.
Several online directories exist to provide law firms with a means to list themselves to gain
greater search engine visibility.
Social Media
Social media has — and will continue to have — a profound effect on the legal directory
landscape by changing the way in which information is delivered and consumed.
No longer do we just passively read information; we interact, promote, share, and
collaborate — whether it’s through Twitter, blogs, online forums, or Q+A sites.
LinkedIn has become arguably one of the largest legal directories in the world, with buyers
of legal services regularly using the site to check out potential partnerships.
Traditional print-based legal directories are also getting in on the act, with Chambers &
Partners launching its own “ChambersConnect” network in 2016.
20
League tables can be broadly described as those products that measure law firm deal
activity through factual data rather than more subjective methodologies.
Many league tables originated in the 1990s as demand rose for more sophisticated and
transparent deal reporting.
The likes of MergerMarket, Dealogic, Thomson Reuters, Bloomberg, and others are well
known in this space.
For many deal-focused firms, league table performance is just as — if not more important
— than how they fare in directories.
As well as areas that lend themselves easily to deal reporting — M&A, finance, capital
markets, project finance — league table-style surveys are prevalent in other practice areas where
quantitative data can be collected, measured, and assessed.
For example, there are surveys that list those law firms handling the most patent
prosecutions filed at the patent office.
As traditional print directories were replaced by internet-based sites in the 1990s and
2000s, Google became the primary way that people accessed information.
Surveys show that a large percentage of buyers of legal services, particularly in the retail
and consumer sectors, search for information about lawyers online.
When they do go online, Google is often their first port of call, and that will lead them to
law firms’ own websites, legal directories, blogs, news articles, and other sources of information
about lawyers.
It is clear, therefore, that lawyers need to manage and maintain a strong and credible online
presence.
Securing high visibility on Google is paramount for some lawyers and firms, and an
industry of experts in search engine optimization (SEO) has built up to help lawyers secure online
prominence.
Several online directories exist to provide law firms with a means to list themselves to gain
greater search engine visibility.
Social Media
Social media has — and will continue to have — a profound effect on the legal directory
landscape by changing the way in which information is delivered and consumed.
No longer do we just passively read information; we interact, promote, share, and
collaborate — whether it’s through Twitter, blogs, online forums, or Q+A sites.
LinkedIn has become arguably one of the largest legal directories in the world, with buyers
of legal services regularly using the site to check out potential partnerships.
Traditional print-based legal directories are also getting in on the act, with Chambers &
Partners launching its own “ChambersConnect” network in 2016.
20
